Cinema Development Pipeline

RNS Number : 1904N

Cineworld Group plc

26 September 2012

 



RNS Reach

26 September 2012

Cineworld Group plc

Cinema Development Pipeline

Cineworld Group plc ("Cineworld" or "the Group"), the UK's number one cinema chain by box office is pleased to announce the following update on its cinema development pipeline.

Further to the site locations named in its 2012 interim results presentation on 16 August, Cineworld now expects to open the following additional cinemas:

·      an 11-screen cinema in Broughton Park (Chester), a 6-screen cinema in Swindon in 2014 and

·      a 12-screen cinema in Bracknell, date tbc

These sites are in addition to Cineworld's current plans for 2013 which include the opening of the 9-screen Wembley development, a 6-screen cinema in St Neots and a replacement 10-screen cinema in Gloucester. Cineworld still targets two further multiplexes to open next year.

Cineworld remains on target to open 25 cinemas by the end of 2017, which will take the estate to over 1000 screens at 105 locations around the country. Today's locations bring the total number announced to 12 of the total 25.

Stephen Wiener, Chief Executive Officer of Cineworld Group plc, said:

"Naming additional sites today shows the strength of our pipeline and that we are making progress towards our target. We remain a highly attractive development partner because of our economic resilience and the footfall we drive to sites even in difficult times. The opening of our 7-screen Aldershot cinema before the end of the year will be the beginning of an accelerating succession of openings and I look forward to providing further updates."

For further information:

Cineworld Group plc	020 8987 5000		M:Communications	020 7920 2339
Steve Wiener Philip Bowcock			Elly Williamson Matthew Neal

 

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